It’s not like we’re giving away in trade secrets here or talking out of shop. The rich don’t even try to hide the fact that they’re actively skimming off the top. During the recession, the 99.5%, the “everyone else”, lost $669 billion while the rich managed to earn a whopping $5.6 trillion. Around $2 trillion of that was gained at the expense of others thanks to special tax breaks the wealthiest Americans enjoy that the rest of us have never even heard of.

Frankly though, all of that news seems downright cheerful when compared to what an investment manager, who would like to remain anonymous, wrote in an email in 2011.

“In my view, the American dream of striking it rich is merely a well-marketed fantasy that keeps the bottom 99.5% hoping for better and prevents social and political instability,” the manager wrote in an email to Professor G. William Domhoff of the University of California at Santa Cruz.

Happy holidays everyone!

Posted by James Poling

A socialist, tinkerer, thinker, question asker and all around curiosity seeker. If you'd like to reach me you can use the contact link above or email me at jamespoling [at] gmail [dot] com.

3 Comments

  1. We have two choices; continue with the status quo and just ignore it hoping we can break even at some point or remove the rich from their thrones. Guess what I want to do…………..

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  2. There should be an I AGREE or a YOU ARE SO RIGHT button. LIKE is not the beat choice here.

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    1. What about a YOU GO BOY button? I’m emailing WordPress now!

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      Reply

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